To estimate your savings, select a credit range and enter your outstanding debts
Let's see what debt consolidation could do for you
$
%
$
Based on your selection of credit, we are unable to provide you with a savings calculation.
A minimum credit score of 660 is required to qualify for a Discover Personal Loan. You can read more about the importance of your credit history on our Resource Center.
Call to speak with a dedicated loan specialist and evaluate your options.
Based on the information entered, consolidating debt with Discover Personal Loans may not save money or time
Based on your current situation, you could keep your monthly payment of $ and:
$
months
This is just an estimate. Adjust the slider to see how different credit scores can affect your savings.
Your APR will be between 5.99% and 24.99% APR based up on creditworthiness at time of application.
Information and interactive calculators are made available as self-help tools for your independent use and are intended for educational purposes only. Any results are estimates and we do not guarantee the applicability or accuracy to your specific circumstance. For customers with less than Good credit, a Discover Personal Loan may not be the right debt consolidation solution.
Find out if you prequalify today
Check your rate before you apply—it won't affect your credit score
How low could monthly payments be? Estimate payments with our Personal Loan Calculator
Here's how a Discover personal loan can help you consolidate debt and save
Lower your interest rate
Rates from 5.99% to 24.99% APR can help you save on interest.
Make one fixed payment a month
Pay off creditors directly
Rates from 5.99% to 24.99% APR can help you save on interest.
Common questions about debt consolidation loans
The debt consolidation calculator totals up the debts you input and, using your average interest on that debt, estimates how long it would take to pay it all off if you continue to simply make your current monthly payments. It also estimates how much you'd spend on interest if you continued to pay down your debt in this way.
Then, the calculator also estimates your pay-down time and total interest paid if you were to get a debt consolidation loan with the estimated rate shown for the calculation.
This helps you compare your current situation to what might happen if you consolidated your debt. Your rate may vary based on the information contained within your application. These numbers are for comparison purposes only.
With a debt consolidation loan, you can get a lump sum to pay off your higher-interest balances from credit cards, medical bills, and more. You can have funds sent directly to your creditors, making it easy to consolidate your debt.
With a debt consolidation loan, you can also simplify and save by consolidating multiple higher-rate payments into one fixed payment. Learn more about strategies to pay down debt.
With a fixed rate loan, you could lock in an interest rate that's lower than what you're currently paying on your outstanding balances. This means you'll pay less in interest over time. Additionally, a fixed rate loan can lower your monthly payments to help you save money each month, and it may help you pay down your debt faster. Read more about consolidating debt to save money.
Learn more about debt consolidation and money management
From the first time you consider a loan to the moment you finish paying it off, you’ll find helpful articles and tools in our Resource Center.
Discover debt consolidation loan reviews
Still have questions?
Give us a call and speak with a knowledgeable U.S.-based loan specialist.
Ready to check your rate?
See what your rate will be with a Discover personal loan. It’s quick, easy and won’t affect your credit score.
